By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

The Bahamian principal behind a well-known Briland tourism business yesterday accused his former US business partner of "saddling me with a large tax obligation" while earning "millions" from the venture.

Julian ‘Shaq’ Gibson, in an e-mailed reply to Tribune Business, said he plans to counter the lawsuit filed against him by Pablo Conde and the latter's US-based business, Conch & Coconut LLC, with legal action of his own that will launch before the Bahamian Supreme Court today.

Describing Mr Conde's move as a "knee jerk reaction" to his own legal move, he revealed that Conch & Coconut's Harbour Island-based operation has been "shut down" since it was "raided" by the Department of Inland Revenue and a "fraudulent" Business Licence - which Mr Gibson blamed on his former US partner - uncovered.

Hitting back after Mr Conde accused himself and others of "trademark counterfeiting", "theft of trade secrets", and "unfair competition, Mr Gibson said: "I haven't seen Mr Conde's complaint yet but we are filing our own (today or tomorrow) here in the Supreme Court of the Bahamas. I am represented by Ian Cargill and Glinton, Sweeting and O’Brien.

"When I was only 24 years-old, Mr Conde approached me to 'co-operate' on a golf cart/ boat rental and concierge business on Harbour Island. He set it up whereby all gross receipts were sent to Conch & Coconut LLC in Florida, while I owned and operated Conch & Coconut Ltd, the operational company here in The Bahamas. As you know, this type of business is preserved exclusively for Bahamians.

"Mr Conde made millions while I made very little. As you know, I'm saddled with a large tax obligation due to his actions. I have negotiated a settlement with Inland Revenue. In May of this year, my business was again raided by Inland Revenue and shut down due to a fraudulent Business Licence provided by Mr Conde."

Mr Gibson asserted that an "investigation" into this by the Department of Inland Revenue and Royal Bahamas Police Force is "pending". As a result, he added that he "immediately terminated any and all existing relationships with him.

"His lawsuit is a knee jerk reaction to his business practices here in The Bahamas," Mr Gibson added. "I will protect the integrity of my name, my local team and Bahamian law through my litigation. He should not be allowed, as an American, to do business in The Bahamas in any fashion."

Mr Conde, meanwhile, in his lawsuit is alleging that Mr Gibson "forged a falsified and fraudulent version of the bill of sale" for a boat he had purchased "with the intent to defraud the Bahamian government of the Customs [duty] owed on same and submitted the fraudulent bill of sale to The Bahamas".

Documents filed with the south Florida federal court purport to show two different bills of sale for the same 24-foot vessel named Intrepid; one showing a purchase price of $98,000, and the other, $50,000.